Reading Lib Dems set out plan to halve energy bills in a decade
In a major speech, Liberal Democrat Leader Ed Davey announced the Liberal Democrats would aim to halve energy bills in a decade by breaking the link between gas prices and electricity prices.
The party are also calling for investment in cheap renewable power and home upgrades to be accelerated.
Right now, the cost of electricity is set by the price of gas 97% of the time – even though half of our electricity comes from renewables, which are much cheaper than gas.
Their policy would break the link between gas prices and electricity costs, allowing people to benefit from cheap, clean power. The move would slash a typical household’s energy bills by £870 by 2035, down from £1,720 currently.
A key part of the proposal is moving older, expensive renewable projects to cheaper Contracts for Difference, which were pioneered by Ed Davey when he was Energy Secretary. According to experts, this move alone could reduce bills by approximately £200 per year for a typical household.
Leader of the Liberal Democrats on Reading Borough Council, Councillor Anne Thompson said:
“Energy bills are too high. For years, families and pensioners in Reading have been clobbered with rising bills.
“Years of failure under the Conservatives pushed up everyone’s bills. And the Labour Government has failed to make cutting people's bills the priority it should be.
“We need change - we need action to fix the cost of living crisis. The Liberal Democrats have set out a clear plan to halve energy bills and are calling on the Government to take these plans on and put them in place.
“So many people tell me they’re struggling to make ends meet, their bills are spiralling every month, and they’re having to make tough choices just to get by.
“By breaking the link between gas prices and energy costs, people can enjoy the true benefits of cheap, clean, renewable power.
“The Liberal Democrats in Reading are standing up for our community and have a plan to cut bills; now the Government needs to act.”